I visited on Thursday (4th Dec) and showed them the pdf on their website.
They told that they will ask their product team. Finally they got mail from their product team that Grandeur SA can be opened with 1 lakh IP.
They took the printout of the mail and came to my home on the same day in evening and opened the account.
The account started reflecting in IRIS app in few hours and after 2-3 days received welcome kit by courier. It contained Grandeur DC (Mastercard WorldDebit) along with a sling bag, a chequebook and few documents describing the account benefits.
Now I'll keep this 1 lakh in account for next 3-4 months and make few credit and debit transactions using DC. Let's see what all benefits I get in next 3-4 months.